Assessment Appeal Services

Assessment Appeal Services

Assessment appeal services The majority of localities determine your property tax responsibility based on a title ad valorem assessment of the property’s value. Sometimes, as a residential property owner, you get an unwanted surprise in the mail telling you your taxes are increasing, and sometimes it might appear as though your assessment is too high. Usually, matters of this nature can be resolved with a phone call. If however after discussing your assessment with the local taxing authority you continue to feel like your home was overvalued, an experienced, independent, third-party appraiser is often your best bet in demonstrating your case. That’s where we come in. You’ll find numerous different techniques for appealing assessments since there are property taxing districts, therefore it is important to enlist the help of a professional appraisal firm which is seasoned and familiarized with the particulars of your specific jurisdiction. Please take note: it’s a good idea to perform your very own research prior to deciding if you should proceed with a property assessment appeal, particularly before you make the decision to hire a professional appraiser. Nevertheless, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take “shortcuts” — i.e., your research — and employ it on its face within our independent evaluation. When you hire us for an assessment appeal, you’re commissioning ¬†an independent, third-party professional appraisal report. Therefore we do our own evaluation, start to finish. Should you be correct that your property has long been overvalued, a completely independent report such as ours will be a lot more influential than any other facts you can...
What is PMI and How to Get Rid of It

What is PMI and How to Get Rid of It

What exactly is PMI and how can I get rid of it? Real estate lenders are a curious lot. It seems they’re willing to offer just about anyone money. Assuming a half-way decent credit rating, any potential home buyer can secure financing for a house. Why? Because these transactions are guaranteed by a very precious asset: the home itself. If a customer defaults on a home loan, the risk for the provider is often only the difference in the worth of the property and the amount outstanding on the mortgage, less the figure it costs them to reclaim and resell the house. As a result, lenders are very cautious about financing higher than a specific portion of a home’s value. Traditionally, this has been eighty percent. The buffer this gives the lender helps ensure that their deficits from foreclosures are kept to a minimum. In the last few years, conversely, it is progressively more common to see home buyers using down payments of 10, 5 or even 0 percent. Of course, financing this much provides the lenders with much more risk. To offset this threat, these transactions often require Private Mortgage Insurance or PMI. This supplemental policy protects the bank in case a debtor defaults on the loan, and the value of the property is less than the loan balance. PMI has become a large money maker for the mortgage loan providers. The cost of this insurance – often $40-$50 per month for a $100,000 house – is often combined within the mortgage payment. Due to the size of the entire charge, this additional charge is often unnoticed. Homeowners...
3 Ways to Value your Home During a Divorce

3 Ways to Value your Home During a Divorce

Thinking of filing for Divorce? Here are 3 ways to value your largest asset… Your Home. For a lot of partners, the marital property is the largest asset gained during the marriage. Whether you or your partner desires to keep the marital residence following the divorce, it is essential that an accurate value is obtained for purposes of property division. Order A Home Appraisal The absolute most reliable evaluation method for real-estate would be to obtain an appraisal from a qualified appraiser. Depending on your real estate market, appraisals could cost a few hundred or several hundred dollars. Even though this may be financially burdensome when your earnings are already strapped as a result of costs for the divorce process, an assessment can save you thousands of dollars if the value you’re using for the real estate is inexact. For example, if you are inquiring to keep the marital residence, and you are attributing value to the property based upon a 2013 assessor’s value at $345,000, but a current appraisal values the property at $325,000, you’ll owe your partner $20,000 less in equity for the residence. Thus, the expense of an appraisal is actually a valuable investment. Conversely, if your husband or wife is requesting to keep the property, and you have inadvertently valued the house too low, there’s a chance you’re losing out on equity in your home to which you are entitled. In the event you and your spouse aren’t in agreement on the value of the property, an appraiser is a reliable witness whom you can call to testify at a final hearing. Comparative Market Analysis...